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Cases - Looking for Word-of-Mouth Referrals
You probably have realized that word-of-mouth can be a very strong marketing tool. Most self-employed professionals know that referrals can be a great building block. But you may think that building enough word-of-mouth to ge
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
nerate a substantial amount of business is a dream. It isn't.
You can count on some referrals from your existing clients and your friends and relatives. But did you know that you can get referrals from people outside of your
You can count on some referrals from your existing clients and your friends and relatives. But did you know that you can get referrals from people outside of your
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
circle as well?
All you have to do is increase the size of your circle to include more people. In order to to get referrals, people need to like you and trust you. They are putting their reputations on the line by sending c
All you have to do is increase the size of your circle to include more people. In order to to get referrals, people need to like you and trust you. They are putting their reputations on the line by sending c
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
ients your way. In order to gain that type of trust, they need to know you.
Wouldn't you love to have 100 people who were willing to send you clients? What if they put them in touch with you on a daily basis? That would be g
Wouldn't you love to have 100 people who were willing to send you clients? What if they put them in touch with you on a daily basis? That would be g
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
reat. But 100 people? Where would you find them?
It isn't as hard as you might think. One of the keys is to find people whose own work puts them in touch with your potential clients every day.
Start with your current client
It isn't as hard as you might think. One of the keys is to find people whose own work puts them in touch with your potential clients every day.
Start with your current client
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
. Remember that in every experience they have with you is a marketing opportunity. The majority of my work comes through referrals. Yes, I do actively market my business in other ways, but referrals list right on top. One of
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
the benefits of referrals is that most clients that are referred are ready to do business. There is very little selling to do.
Next move on to networking. You can sit down and identify a list of people in your area that are
Next move on to networking. You can sit down and identify a list of people in your area that are
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
ikely to be strong referral sources. Look for people that are in touch with clients that you would desire on a daily basis. For example, a marketing consultant who works with small start-up businesses might choose accountants
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
, attorneys, bankers and the local chamber of commerce. Office supply vendors, graphic designers and printers may also be key contacts to get to know.
The idea is to make the acquaintance of ten people in each occupation. Se
The idea is to make the acquaintance of ten people in each occupation. Se
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
k them out and take them out for lunch. Let them know about your expertise, your business and the services you offer. Find out more about what they do and the types of clients they serve. If they refer you business, you want
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
to do the same for them.
If you can define your business, you can identify those that will serve it. If you have trouble identifying other occupations, ask your current clients who else they currently do business with.
Havi
If you can define your business, you can identify those that will serve it. If you have trouble identifying other occupations, ask your current clients who else they currently do business with.
Havi
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ng a specific goals (such as 100 referral partners) will help you focus your networking. When you meet people, decide if they should be a part of your plan. When you meet someone in an occupation on your list simply ask them
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
f you can get together and talk about referring clients to each other.
Get referrals to fill your list from those around you. If you are looking for accountants, ask for referrals from your clients, colleagues and friends. W
Get referrals to fill your list from those around you. If you are looking for accountants, ask for referrals from your clients, colleagues and friends. W
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
hen you find that you can't make enough connections through your existing contacts, simply look them up. You will find that most people are willing to meet with you -- they too are looking to network.
Regardless of how you f
Regardless of how you f
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
rst get in touch, sometimes it just won't work. Don't worry about it too much -- you don't want half-hearted referrals anyway. Just move on.
Remember, neither side is promising to send clients, you are simply expanding your
Remember, neither side is promising to send clients, you are simply expanding your
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
circles to increase the likelihood of that happening. You will probably find that you too are making more referrals during the process.
The key is to be simple and organized. Just go right down your list. If you need to add
The key is to be simple and organized. Just go right down your list. If you need to add
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ore occupations or names, just add them to the bottom. Then keep working on meeting with new contacts.
Once you have 100 names, your work isn't over. You need to change from getting acquainted to following up. You need to ma
Once you have 100 names, your work isn't over. You need to change from getting acquainted to following up. You need to ma
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
intain your contacts. Make this a habit. Meet with someone at least once a week. The goal is to stay in touch with everyone on your list at least once per quarter. You can fit this into your busy schedule in many ways. Take t
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
em to lunch, go for a walk in the park, invite them to a business or social function.
Over time, your list will change. Some people will fall off. Not everyone is going to be an excellent referral source. You can always add
Over time, your list will change. Some people will fall off. Not everyone is going to be an excellent referral source. You can always add
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
more names as you need them. However, you may find that you are plenty busy without adding any new referral partners. Word-of-mouth can be a strong marketing tool. But you have to implement it wisely to really benefit from it
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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